Capital International Sarl bought a new stake in Trane Technologies plc (NYSE:TT – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,907 shares of the company’s stock, valued at approximately $5,802,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at $25,000. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at $32,000. Creative Financial Designs Inc. ADV increased its stake in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after buying an additional 49 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Trane Technologies in the third quarter valued at $42,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 39 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Trane Technologies Price Performance
Trane Technologies stock opened at $456.51 on Monday. The business’s 50-day simple moving average is $458.85 and its 200 day simple moving average is $431.46. The stock has a market cap of $100.91 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 2.10 and a beta of 1.20. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.
Trane Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is presently 32.48%.
Insider Activity
In other news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on TT. KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Citigroup raised their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays raised their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $506.56.
Check Out Our Latest Stock Analysis on Trane Technologies
Trane Technologies Profile
Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.
In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.
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